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Thursday, 06/22/2017 10:11:13 PM

Thursday, June 22, 2017 10:11:13 PM

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MOSCOW, June 20 Russia's central bank, which is seeking to its international reserves, posted an increase in gold reserves in May, the fifth consecutive month of gains.

The central bank, one of the world's largest holders of bullion, has been regularly buying gold as it wrestles with weaker oil prices and Western sanctions imposed over Moscow's role in the Ukraine crisis.

Russia's gold reserves rose to 54.9 million troy ounces by early June from 54.2 million ounces as of May 1, the central bank said on Tuesday.

The value of its holdings rose to $69.30 billion from $68.65 billion as of May 1.

Russia's central bank, which usually buys locally produced gold from Russian banks, has been one of the leading national buyers of gold in recent years, along with China.



http://www.reuters.com/article/russia-gold-reserves-idUSL8N1JH3WX

"...Polyus PJSC plans to raise as much as $810 million selling shares in Moscow and London this month in a sign Russian mining tycoons are seeking to return to international stock markets.

The nation’s biggest gold producer, controlled by the family of billionaire Suleiman Kerimov, plans to offer a 7 to 9 percent stake at a price valuing the business as high as $9 billion, according to a company filing...."

https://www.bloomberg.com/news/articles/2017-06-15/russian-gold-billionaire-testing-foreign-waters-with-share-offer

As the United States continues to push towards a military conflict with Russia, there will likely be no real winner when the dust settles. However, if we compare the these two superpowers in the current “gold market”, the Russians are the clear winners.

While the U.S. has been (secretly) liquidating its once massive official gold holdings, the Russians have be doing quite the opposite. According to the data on Smaulgld.com, the Russians have added a hefty 3,000,000 oz of gold to its official reserves since the beginning of the year. If you haven’t checked out Smaulgld’s site, I highly recommend it.


https://www.investing.com/analysis/russia-vs.-usa:-where’s-the-gold-going-200196723
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